Insider scrutinizes cost of SEC's tracking proposal

06/4/2010 | Bloomberg Businessweek

Chris Concannon, a partner at Virtu Financial and a former executive at Nasdaq OMX Group, said the Securities and Exchange Commission's proposal to require financial firms to track equity orders and trades is overly ambitious and too expensive. "Every order placed in the market should be captured and surveilled, but you can't do it in real time," Concannon said. "I don't know how you get to $4 billion."

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